SOLUTIONS
BY INDUSTRY
Case Study
Xeris Pharmaceuticals Streamlines Contracts & Compliance with Onit
Challenge
As Xeris Pharmaceuticals prepared to go public and brought its first FDA-approved product to market, the company faced rising complexity in managing its contract portfolio. With contracts stored in shared drives and tracked manually, the team lacked visibility, control, and audit-readiness. Rapid employee growth and strict compliance requirements—such as those mandated by the Sunshine Act and Insider Trading regulations—further heightened the need for a more robust, centralized contract management solution.
Overcoming Rising Contract Complexity During IPO Preparation
Xeris turned to ContractWorks – a member of the Onit portfolio, a secure and intuitive contract management platform, to bring structure and visibility to its growing contract operations. With ContractWorks, Xeris was able to:
- Centralize more than 6,000 contracts into a single, searchable repository.
- Improve compliance by tracking policy acknowledgments and contract milestones with automated alerts and reporting.
- Simplify internal approvals and e-signature workflows for both vendor contracts and internal policy documents.
- Deliver real-time insights to department leaders with customized reporting.
Results & ROI
By implementing ContractWorks, Xeris realized measurable improvements in efficiency, compliance, and internal controls:
Increased visibility and control
Increased visibility and control over thousands of contracts with built-in reminders and milestone tracking.
Streamlined contract routing and approvals
Streamlined contract routing and approvals, reducing average turnaround time to just five days.
Improved regulatory compliance
Improved regulatory compliance with automated tracking and reporting for internal policy acknowledgments and attestations.
Enhanced internal controls
Enhanced internal controls by enforcing legal and financial reviews prior to contract execution.
Scalable contract management
Scalable contract management capable of supporting rapid growth and regulatory demands post-IPO.
Empower department leadership
Empower department leadership by enabling real-time decision-making through personalized reporting for department heads.
About Xeris Pharmaceuticals
Headquartered in Chicago, Illinois, Xeris Pharmaceuticals (Nasdaq: XERS) is a specialty pharmaceutical company focused on delivering innovative injectable and infusible therapies. With its proprietary XeriSol™ and XeriJect™ formulation technologies, Xeris provides room-temperature stable products designed to improve the patient experience and reduce healthcare system costs. The company’s commercial portfolio includes Gvoke®, an FDA-approved treatment for severe hypoglycemia.
Our Customers
What our customers say
Onit’s ContractWorks makes everything so easy. It’s incredibly intuitive and user-friendly—turning a disorganized mess of documents into a streamlined, organized system in one place. In just a few days, I had it up and running, and within a week, it was already accelerating our legal contract work.
Implementing Onit's SimpleLegal platform has been a game changer for us at Instacart. By moving away from manual processes and embracing an intuitive e-billing system, we've achieved a 10% savings in legal spending. The platform has increased our visibility into legal costs and streamlined reporting, making it easier to share insights with our executive team.
Partnering with Onit's SimpleLegal team has been a crucial step in laying the foundation for our global legal operations at Crocs. The seamless implementation of the e-billing and matter management solution allowed us to streamline our invoice approval process across multiple global entities and jurisdictions. Thanks to the expert support from SimpleLegal, we were able to establish best practice workflows and ensure VAT taxes were aligned with our standard operating procedures.